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Bitcoin-short

Bitcoin - Short Below Key Resistance Level Bitcoin has consolidated below support at $31,200 and continued to fall below the psychological $30,000 level. We expect the cryptocurrency to move lower if doesn't rebound strongly back above resistance at $31,200 in the coming trading sessions. Bitcoin has sustained it's downward momentum since the beginning of May on the back of Chinese crackdown and most recently negative investor sentiment. This is on the back of investor fears of the spread of the covid delta variant impacting the global economic recovery. Additionally, Bitcoin has continued to fall as inflation has risen 5.4% versus 4.9% forecast despite it previously being seen as an inflation hedge due to it's limited supply.
BITFINEX:BTCUSDShort
by KQMarkets
Bitcoin: Buying the dip sub $16,000Predictions (TLDR the analysis): The 400d EMA will eventually fail as support The 20 Month SMA will be tested and fail as support The Monthly Keltner Channel will act as support (with wicking very probable) at about 15k 3-5 year target is 160k with chance of over-performance Main Chart Bitcoin continues to chop sideways and cause a lot of people a lot of pain through all the uncertainty and difficulty in finding a good trade entry. Big picture I still think BTC is entering a bear market. We may bounce up or down and we could have a head and shoulders here or we could have a double top over there but ultimately the easiest trade understand but perhaps the hardest to do is to buy the bottom of the monthly Keltner channel. The chart covers almost a decade of price action BTC and the pattern so far is very clear, price action runs up parabolically out of the Keltner channel and when it slips the 400 day EMA as support price action proceeds until it the Keltner Channel can act as support. There has been a lot of hope that this will resemble 2013 and there will be a quick consolidation and then a quick pump to the upside and that would mean that the price action should continue to find support here on the 400D EMA. I don't see that happening based on the volatility stop. I will link an idea that predicted the bear market based on the weekly VSTOP and SMA analysis but below we will be addressing the monthly. Volatility Stop Analysis There is a very low probability of the 400 maintaining support as the monthly VSTOP and MTF VSTOPx3 are primed bearish. The chart below shows we have broken flipped the monthly VSTOP last period and we are about to flip the MTFx3 after confirming a close below $46.6. The natural conclusion based on history is that the 20 month SMA will fail as support and we test the bottom of the monthly Keltner. Just a reminder that the VSTOP and Keltner are based on the Average true range, a very useful base calculation that I recommend traders at least experiment with. Below is the BLX chart with the 15 day KC and we first focus on 2011. The data here was to young to have a monthly chart and so that is why we are using a lower timeframe. Once again the KC is found as support on the Keltner channel on the highest timeframe that makes sense, the half month chart. We are also working on closing our third candle body within this 15 day KC and this price action resembles the tops at 2011, 2014, 2018 and 2019. It does not look similar to the top of 2013. Elliot Wave Analysis One of the main sticking points for some people is they people don't think that BTC can trade within its previous all time high. That opinion should be to be disregarded because it is is not based on any technical fundamentals whatsoever. The most clear reason why not is in a Elliot wave theory a 12345 wave by default the corrective ABC wave goes within wave 4. Below is a Elliot wave count off of the BLX data that looks heck'n valid. The targets, probably a bout 3-5 years off, is pretty wild as well and will be shown in the fibs section below. Just think 100x is back on the table in 3-5 years. Here is a key point, a ABC correction completes wave 1-2 and sets up wave 3, which by definition cannot be the shortest wave and often is the longest (commodities sometimes wave 5 is the longest). Here are a series of if then comments. If I am correct then BTC is competing a wave 5 and will see an ABC correction. Very likely to the bottom of the Keltner channel. IF that happens then are set up for wave 3. Fibs The most natural fibs we could look for are the 1.618 or 2.618 retracement levels from the top to the bottom of the correction which would put a major stall at either one of those levels, and a potential impulse move between those levels. These are the levels I think most wider time frame traders will be looking at for their long shot. The exact placement of the fibs will require some patience for this move to play out so we know where the exact low will be to do the target setting. This is where I approximate the 160k stall. Here is another example of why the 1.618 is a very important fib retracement: the last cycle ATH to the low. There are people who are saying that this top was unexpected or perhaps premature. That could not be further from the case. This was a classic 1.618 extension from high to low. Given the power of this chart you should remember it and consider it may remain very predictive in the future. This last chart is mostly for funsies. It is a fib extension off of the original 1-2 wave and because the way fib levels and waves interrelate somehow it hella call the high here at the 1.272 level. Very curious. We also see the 1 level acted as strong support twice in the 2017-18 bear market. Since this is a longer shot I don't know how to interpret this yet and it is something for me to ponder. We don't know which of these levels may be stiff resistance and which will be support on retracements but his is something to bear in mind. Perhaps the golden pocket will be the next major top in 10 years. Final Thoughts If you find someone considering a bear market of less than 70% you have to realize they have no historical basis for that call. The calls of "this time will be different" so far still apply as an error in thinking until we have a bear market that is less than 70%. My long term call, while technically based, still is on the shallow end of btc bear markets. You can consider a bear market by your own criteria but for me now we are out of the early stages of btc lifespan it will be below the VSTOP and MTF VSTOP on the weekly for transition and below the 20w confirms. It will take a lot to surpass that triple resistance. If you see the Monthly VSTOP and MTF and 20 month SMA confirmed bearish then you best consider that we are bearish and consider a dip buying strategy
BITSTAMP:BTCUSDShort
by This_Guhy
7
Possible Head and Shoulders forming on BitcoinSo, after a good run from $31000 to $41500 in 7 days with multiple resistance breaks there could possibly be a Head & Shoulders pattern forming on Bitcoin as seen on multiple hourly time frames. As of writing this Bitcoin has been heavily rejected from $41330 after breaking through its previous resistance and I believe it will continue to go down after this for a while. I'm overall bullish on Bitcoin, but I don't think these massive swings are over with quite yet, something to think about.
BITSTAMP:BTCUSDShort
by ryan_fw
6
BTC you SHORT beast, sub 23,000k incoming. Nice, short and concise. 8 Weeks of bearish sentiment, now one thing to consider is a td 9 count will complete at the end of the week. So, factoring in TD Sequential, it'll be important to watch for a 4 count correction to the reverse, or whether it continues bearish sentiment and goes on to complete a 13 count to the downside. However, I play particular attention to a rejection of not only the 0.618 resistance level in this chart, but also how it co-occurs with a rejection of a MA cross-over right on the fib retracement at 0.618 level, which led into heavy downwards pressure. Moving averages, MACD, MFI indicate mid term bearish continuation. As what we expect from crypto trading such as whales dumping, exchanges going into server overload mode and tether printing, ANYTHING CAN HAPPEN. But the charts have spoke thus far, and it is irrefutable despite bias, the technicals and data of btc and the picture being painted does not in the slightest suggest a worthwhile long entry, unless swing trading, and in the the hope we go back up to test new resistance, and just get slammed backed down. Also, just to conclude on and close on a litte challenge. Open a btc/usdt chart, change to weekly/monthly. TA Done. Low lev, low contract for Future traders
Short
by UnknownUnicorn6513259
BTC short, potentially swingBTC bearish these days, I see its coming back towards the top of a range + trendline so i wanted to start shorting it with a partial position and will scale in further with another sell limit near the trendline itself. I have included a hedge order in the setup too as I see a potential break of 70 ma and a price level around 36,4xx and will aim to close hedge at the price of sell limit. With G7 talks ongoing though this setup could be derailed if they say something affecting crypto, but we'll see ;)
BITSTAMP:BTCUSDShort
by MDAminFx1422
BEARISH PULLBACK IS LIKLY (BREAKDOWN CONFIRMED) BTC ($33,888)Good afternoon traders, first of all please get this technical analysis to 30+ likes to unlock tomorrow's alpha post 👍 I'm in a very low leverage short position with a target of $33,888. Fibonacci 0.382 after breaking down from the pennant's support line (uptrend) Once my target is hit I'll wait for a reaction and then make another technical analysis and post it for everyone. Stay safe, avoid high leverage, and most importantly plan your trade and trade your plan 👍 Ever wonder why my posts have been bearish recently, maybe its because we're 50% down from ATH's and I'm trading the charts ignoring the noise of the space. I'm good at shorting and take advantage of my niche, and when the time comes I'll start longing with leverage once we've hit a macro bottom sometime during 2021.
BYBIT:BTCUSD.PShort
by YurloTrades
6